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-elected. fudging the facts on jobless numbers for political gain. we talk to jack welch, one of america's all-time great ceos. his tweet launched the controversy. the question tonight, does he stand by it? you'll hear from him in a moment. he was tweeting about september employment data which came out this morning showing the economy adding 114,000 jobs last month, and the jobless rate falling by .3 to 7.8%. that would be the lowest since president obama took office. now, before we get into what jack welch tweeted, here's how president obama reacted to the economic news. >> today's news should give us some encouragement. it shouldn't be an excuse for the other side to try to talk down the economy just to try to score a few political points. it's a reminder that this country's come too far to turn back now. >> president obama on the campaign trail today. now here's what mitt romney said. >> the unemployment rate as you know this year has come down very, very slowly but it's come down nonetheless. the reason it's come down this year is primarily due to the fact that more and more people have ju
into what jack welch tweeted, here's how president obama reacted to the economic news. >> today's news should give us some encouragement. it shouldn't be an excuse for the other side to try to talk down the economy just to try to score a few political points. it's a reminder that this country's come too far to turn back now. >> president obama on the campaign trail today. now here's what mitt romney said. >> the unemployment rate as you know this year has come down very, very slowly but it's come down nonetheless. the reason it's come down this year is primarily due to the fact that more and more people have just stopped looking for work. >> he went on to say the country can do better, which is about what you would expect him to say, same as you would expect president obama to say what he said. that's the way the two sides do it, year in, year out, campaign after campaign. what no one does, at least not until now, is look at the numbers and suggest the fix is in. this morning, though, jack welch did tweeting, quote unbelievable job numbers. these chicago guys will do anything. can't de
't debate so change numbers. tweeting in regards to today's jobs report, i agree with jack welch, chicago style politics is at work here. more about jack welch and g.e. and accurate numbers more in this show later. we have an interview with cnbc. >> we have a very professional civil service organization where you have top, top economists that work at the bls. it's really ludicrous to hear that kind of statement. >> eliot: and the always wise economic adviser had this message for jack welch. i quote love you jack, but here you've lost your mind. what a coincidence joining me now is austan goolsbee, former chairman of president obama's council of economic visors. conspiracy theories running wild, and how you generate them. what is your take on this. >> okay, the numbers come from iron fortress, somewhere in the bls. it's absolutely and totally ridiculous to say some how some political people changed the numbers in bls. it makes no sense whatsoever. look i'm friends with jack welch. he's a great guy. i have no idea what he's talking about. this is birtherrest crazy stuff. i don't know how yo
of general electric, jack welch, who joins us right now. jack, you made a lot of news today. here is the tweet you put out this morning. unbelievable jobs numbers. these chicago guys will do anything. can't debate so change numbers. and i'm just wondering, i understand the way it works is the president gets a heads-up on the unemployment number 4:00 the day before and has to keep it to himself. you're saying in your tweet this morning that the news went the other way, that the people working for the president somehow got the bls, the bureau of labor statistics, and played with the numbers so it would come down below 8% today. how does it work from your perspective? what happened here? >> well, chris, all i can talk about are some of the numbers. we had 600,000 government jobs added in the last two months. we had 873,000 jobs by a household survey, which is a total estimate from 50,000 phone calls. of those 600,000 were temporary workers. chris, these numbers are all a series of assumptions, tons of assumptions, and it just seems somewhat coincidental that the month before the elec
implication is there. >> i'm going to bring in ali velshi. ali, what do you make of jack welch's tweet, and what do you think tonight? >> anderson, they very troubling. anybody who has asked me in my entire career in america who the best one is, that is jack welch. there are ceos and all sorts of people retweeting what he said. he is absolutely right, there are questions to be asked about the methodology. that household survey that comes up with the unemployment number, i have said in my entire career that people should pay less attention to it. pay attention to hours worked and pay attention to wages and income. that's what touches people. but to say something like this is like donald trump saying president obama is not an american citizen without any proof. you are jack welch. jack, you've got to take this opportunity while everybody is listening to you to actually say, yes, anderson, i'm taking that tweet back. i'm going to send a new tweet to say i was exaggerating. there are problems, maybe bls should look into it, but throwing out the accusation, that's like asking the government
at the business level and these numbers. what do i say? they're fishy. let me say one thing about jack welch that can't be said enough. there was no better ceo in america in the last 100 years than jack. he did it all. look at what he created, look at the value that was generated for people that own that stock. i'm biased. i sat on this board for six years but i can tell you right now i watched jack run a company. there was nobody better, nobody. he was all business. jack expected the numbers for what he said, not for what he wanted them to be. he was a realist. he's being a realist now and i think i am, too. these numbers don't square with what's going on in the economy. say what you want. >> jack had this, got this brand and never been hammered with criticism before. it's like, are you kidding me? you never heard of pcb, neutron jack, you've had -- he's had to put up with criticism. you do something the liberals their panties get in a bunch, but you can say, thisser' the sa they're the same ones that said bush lied, people died, which is a more heinous allegation to make. the bls, maybe th
this week, but we did get numbers mixed and consumer confidence is good and unemployment and yet, jack welch, the former ceo of general electric as you just mentioned on squawk out on twitter today. he's been obviously critical of the white house for years now, but he says unbelievable jobs numbers. these chicago guys will do anything. can't debate so change numbers. that's the former head of a very large company. >> i'm on tv, and i remember jack sent me a fax when i was first on with mark haynes. i like you. i love jack. i'm trying to reconcile jack with the numbers because i trust jack and think he's terrific. i come back and say listen, they've been wrong -- he's jack. i don't think that they're phony. it doesn't make me feel that jack is off the reservation so much that i think that this particular issue -- i disagree with him. i read the tweet and i was, darn, jack, come on, man. >> let's say good is good. >> does this mark the turning point and we had david come out this morning where he was establishing 1575 and that's quite an upside for 2013 particularly if he's standing by a year-
growth in the month surprising to jack welch, former ceo of ge. here is what he said. >> well, and the last two months we have gone from 83-81. now we are going to 7.8% by changing the numbers assumptions. like. i don't know if -- what the right number is. i tell you, these numbers don't smell right when you think about where the economy is right now. gerri: gary, to you first. is the bls giving as ps? >> it is the bs. look. three months ago i said that even if we got newt we would be under 8% because the politics of it. we saw 30 days ago the fed announced a open ended printing of money to get asset prices up, and they say 50 days before election, this one is a joke. if you noticed anything about this number, the estimates of job gains came in the exact amount it was supposed to which should have kept it at 8.2%. the estimates, somehow we got to 7.8%, and the use the most of tiles survey, the household survey. gerri: we will get to that. >> 400,000. gerri: can these numbers be sai's? >> i don't think they can. we have had rumors of bls massaging numbers for the benefit of the
Search Results 0 to 21 of about 22 (some duplicates have been removed)